Talking BioTrackTHC with Daniel Sparks - Cannabis P.O.S System
Cannabis P.O.S System BioTrackTHC is one of the top Point Of Sale systems in the cannabis industry. Learn more about them as we talk with The Director of Government Affairs: Daniel Sparks.
What is BioTrackTHC?
BioTrackTHC develops seed-to-sale software for the cannabis industry. We produce two versions of our software: Our government traceability system is used by state governments to track and regulate the activity that is occurring within their respective cannabis programs. Our commercial system is used by dispensary owners, cultivators, manufacturers/processors, and other licensed cannabis business owners for inventory management, chain of custody and point of sale.
BioTrackTHC allows businesses to run more efficiently and stay compliant with the law in the jurisdiction in which they are operating. It also allows government agencies to monitor the businesses in their jurisdiction in real time.
How did BioTrackTHC get its start?
BioTrackTHC started as a prescription drug monitoring system that prevented "doctor shopping" and the over-dispensation of pharmaceuticals. We were offering our technology to the state of Colorado in an effort to combat the use of pseudoephedrine being used to create methamphetamine. In the process we were approached by dispensary owners in Denver that asked if our technology could be used to track cannabis cultivation and sale. BioTrackTHC was born out of necessity.
How has the recreational industry affected your business model?
The recreational, or adult-use cannabis industry, has paved the way for the expansion of our business model. BioTrackTHC was created to address the unique challenges that cannabis business owners and regulators face. The expansion of the industry has directly contributed to the expansion of our company.
What are some of the struggles with being one of the first Cannabis P.O.S. systems?
The fact that the cannabis industry is still being created has led to an environment where the law changes frequently on a state and local level. When BioTrackTHC first started tracking cannabis, there weren't any states that allowed for recreational sales. Now there are four states where adults are purchasing cannabis without a doctor's recommendation, and several more states that are creating programs to allow for it. Our ability to adapt to the constantly changing legal landscape is what has allowed us to overcome these struggles and become a leader in cannabis tracking.
So, BioTrackTHC is not only a Cannabis P.O.S system? You also offer services to government agencies. Can you explain how you solve their issues?
I would say that we contribute to the discussion that leads to issues being resolved. The most common issues presented by state agencies include:
access by children
criminal element being involved in legal industry
BioTrackTHC provides regulators with insight as to when and where these activities could potentially occur. These regulators use the data gained from the use of BioTrackTHC to spot irregularities and investigate improper activity.
The layman may not understand the cannabis tracking systems set in place by states. Could you give us a quick breakdown on the tracking regulations on growing and transporting cannabis?
In some states, business owners are required to affix a barcode to each plant and a separate tag to each sell-able product. When a cannabis product is being transported, the transporter is required to notify the state and have proper documentation during the transport. BioTrackTHC allows users to create barcodes as well as transportation manifests that reflect the information that is required by the state. BioTrackTHC is in use in every state that allows for commercial cannabis businesses. No matter what state your business is located in, our system will allow you to comply with the laws and regulations for cannabis tracking.
BioTrackTHC is international? How has the transition been with other governments? Any pushback on your side?
We are actively translating our system to several different languages to accommodate international cannabis programs. We welcome the expansion and look forward to providing our technology to countries that are reforming their cannabis laws.
How does BioTrackTHC differ than the other cannabis P.O.S services on the market?
BioTrackTHC holds the most government contracts for seed-to-sale technology and offers an unparalleled user experience combined with top notch customer service.
What is the next big step for the company?
Continuing to improve our technology and expanding into new emerging markets.